The accounting for transfers of receivables has come under the scrutiny of standard setters, as has the accounting for transfers involving inventories and research and development
Indicate whether the statement is true or false
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A.J. Ryan bought 500 shares of Google at $364.55 per share. Assuming no commission, what did Ryan spend?
A. $182,275 B. $154,820 C. $86,455 D. $173,275
Which of the following questions would be MOST appropriate to wear for an interview?
A) baggy clothes B) funky jewelry C) tennis shoes D) lots of cologne or perfume E) conservative suit
Ira's best friend Charles invited him to a Squeak-of-the-Week party at Charles's home. Squeak-of-the-Week is a mail order company that sells dog toys to pet owners. Ira is invited to join the Squeak-of-the-Week network as it is a great money making opportunity. Ira will earn a 10% commission for every dog toy he sells. However, for each person Ira can recruit to sell dog toys he will earn 20% from their sales. Should Ira join the Squeak-of-the-Week network?
A) Ira should join Squeak-of-the-Week as he is a very good sales person B) Ira should consider joining Squeak-of-the-Week as he needs to increase his income to balance his budget C) Ira should call the authorities since Squeak-of-the-Week is an illegal pyramid scheme D) Ira should not join Squeak-of-the-Week as it is a multi-level marketing organization aimed at finding new recruits E) None of the answers are correct
The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding Industries. In addition, the variances for one month's production are given. Assume that all inventory accounts have zero balances at the beginning of the month. Standard Cost Per Unit Standard Monthly CostsMaterials$4.00 $8,400 Direct Labor 2 hrs @ $2.60 5.20 10,920 Factory Overhead: Variable 1.80 3,780 Fixed 5.00 10,500 $16.00 $33,600 Variances: Material price$244.75 unfavorableMaterial quantity$500.00 unfavorableLabor rate$520.00 favorableLabor efficiency$2,080.00 unfavorableWhat was the actual quantity of materials used during the month?
A. 2,225 B. 2,156 C. 1,975 D. 2,100